Gold Rate Today in Chennai Pauses Amid Tamil Nadu Election Results; Check Latest 24k, 22k, 18k Prices On May 4

Gold rate today in Chennai paused movement for the second day in a row, as markets adopted a cautious stance amid the ongoing counting of votes for the Tamil Nadu election results. With political uncertainty in focus, traders and investors are holding back from making aggressive bets, keeping gold prices range-bound at elevated levels.

At the same time, global cues are offering mixed signals. Spot Gold stood above $4,600 an ounce in international markets because of the geopolitical developments in the Middle East.

Adding to cautious optimism, there are also signs of progress in US-Iran peace talks, with Iran reviewing Washington's response to its latest proposal, raising hopes for a possible diplomatic breakthrough.

Despite these developments, gold has seen some pressure in recent weeks and remains down nearly 12% since the conflict began. Back home, the Chennai bullion market is mirroring this global uncertainty but without sharp volatility. Prices are consolidating rather than reacting strongly, indicating that both local and global investors are in a wait-and-watch mode.

Gold Prices in Chennai Today

The gold rate in Chennai today experienced no big changes. The 24-carat gold rate in Chennai cost Rs. 1,52,200 per 10 grams, while the 22-carat gold rate in Chennai now retails at Rs. 1,40,000 per 10 grams. The lower 18-carat gold is now available at Rs. 1,16,800

Meanwhile, Silver Prices in Chennai Today Also didn't move as for two days straight and is now available at Rs.2,70,000.

Gold Future Price On MCX

On the Multi Commodity Exchange (MCX), the gold futures for June 5th, 2026, delivery

are down by 0.13% at Rs. 1,51,149 per 10 grams. Similarly, the silver futures for the July 5th expiry are declining today by 0.268%, trading at Rs. 2,50,282 per kg.

"Gold prices are expected to correct. One can sell at 151000 with a stop loss of 152000. Prices can test 149500-148000. Silver prices are expected to pull back. Traders can buy at 245000 with a stop loss of 240000 for the target at 250000-255000." as per Nirmal Bang Securities report.

Spot Gold And Silver Trends In The Market

"COMEX gold and silver edged lower to $4602/oz and $75.5/oz, extending a second consecutive weekly decline, as Trump suggesting Iran's latest peace proposal may fall short have kept crude prices firm which could prompt central banks to keep interest rates elevated for longer, pressuring non-yielding assets like bullion." as per Kotak Securities Report

Disclaimer: The views and recommendations expressed are solely those of the individual analysts or entities and do not reflect the views of Goodreturns.in or Greynium Information Technologies Private Limited (together referred as "we"). We do not guarantee, endorse or take responsibility for the accuracy, completeness or reliability of any content, nor do we provide any investment advice or solicit the purchase or sale of securities. All information is provided for informational and educational purposes only and should be independently verified from licensed financial advisors before making any investment decisions.